After a torrid 2014, the passenger car industry seems to have made a recovery in 2015 with sales in the country having gone up by 12.87 per cent in December, 2015 as compared to the year before. However, as reported in a PTI report, the 2-wheeler industry was unable to match the gains showed by the passenger car industry and closed the year 3.10 per cent lower than the figures posted in December, 2014.
According to the data released by the Society of Indian Automobile Manufacturers (SIAM), December, 2014 saw 152,986 passenger car units sold across the country, a figure which rose to 172,671 a year later in December, 2015. However, motorcycle sales declined 5.93 per cent to 724,807 units last month compared to the 770,519 units sold the year before in December. The end-of-year sales spurt followed the industry's lucrative Diwali period. Many dealerships offered customers year-end discounts and benefits to clear stock. Additionally, low fuel prices also aided customer sentiments towards buying new cars.
Despite these positive growth figures, the low level of rural off-take stunted the automotive industry's overall growth as two-wheeler demand dropped by 3.10 per cent last month to 1,167,633 compared to the 1,204,942 units sold in December, 2014. Commercial vehicle sales were up by 11.45 per cent however overall vehicle sales were marginally down from 1,504,944 in December, 2014 to 1,502,314 last month.
However, in the time frame of April-December, 2015 showed a marginal growth of 1.31 per cent over the figures posted in the same period in 2014. The industry produced 17,890,253 units between April-December, 2015, which includes 3-wheelers, 2-wheelers, commercial vehicles, and passenger cars. In the same period in 2014, the total vehicles produced stood at 17,659,325 units. Judging by the figures, the industry does seem to have recovered but as indicated by SIAM, motorcycle sales continues to be an area of concern.